Desjardins Trims Rogers Communications (TSE:RCI.B) Target Price to C$63.00

Rogers Communications (TSE:RCI.B) (NYSE:RCI) had its price objective trimmed by Desjardins from C$68.00 to C$63.00 in a report released on Thursday, BayStreet.CA reports. The firm currently has a buy rating on the stock.

A number of other brokerages have also weighed in on RCI.B. BMO Capital Markets upped their target price on shares of Rogers Communications from C$67.00 to C$70.00 in a research note on Thursday, September 19th. JPMorgan Chase & Co. reduced their target price on shares of Rogers Communications from C$80.00 to C$69.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. Cormark reduced their target price on shares of Rogers Communications from C$74.00 to C$72.00 in a research note on Thursday, July 25th. Royal Bank of Canada upped their target price on shares of Rogers Communications from C$65.00 to C$66.00 in a research note on Thursday, September 19th. Finally, Canaccord Genuity Group lowered shares of Rogers Communications from a “buy” rating to a “hold” rating and reduced their target price for the stock from C$59.00 to C$57.00 in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Rogers Communications currently has an average rating of “Moderate Buy” and an average price target of C$68.59.

Rogers Communications Price Performance

RCI.B opened at C$53.97 on Thursday. The company has a quick ratio of 0.58, a current ratio of 0.65 and a debt-to-equity ratio of 436.50. Rogers Communications has a 12 month low of C$48.67 and a 12 month high of C$64.71. The company has a fifty day simple moving average of C$54.21 and a 200 day simple moving average of C$53.27. The stock has a market cap of C$22.76 billion, a P/E ratio of 33.11, a P/E/G ratio of 0.32 and a beta of 0.62.

Rogers Communications Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, October 3rd were paid a $0.50 dividend. The ex-dividend date was Monday, September 9th. This represents a $2.00 annualized dividend and a yield of 3.71%. Rogers Communications’s dividend payout ratio (DPR) is currently 122.70%.

About Rogers Communications

Rogers Communications Inc operates as a communications and media company in Canada. It operates through three segments: Wireless, Cable, and Media. The Wireless segment offers wireless voice and data communication services to individual consumers, businesses, governments, and other telecommunications service providers; postpaid and prepaid wireless services under the Rogers, Fido, and chatr brands; and wireless devices, services, and applications to consumers and businesses.